Cpf Minimum Sum 2024. The other two levels are the basic retirement sum (brs). Salary caps, contribution rates and allocation rates.
If inflation and cost of living rise at a higher rate, the government has shown that it will increase the retirement sums by more. Here’s how much you are contributing to your cpf accounts, at every income level.
The Minimum Sum For Your Cpf Ra Will Be The Prevailing Brs Of $96,000 As Of 2022.
$6,800 (+$500) from 1 january 2025.
Let’s Say You Join The Scheme At Age 65 With $60,000 In Your Account.
Increase in cpf special and medisave account interest rates cpf ordinary wage ceiling raised to $6,800;
$7,400 (+$600) From 1 January 2026.
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If Inflation And Cost Of Living Rise At A Higher Rate, The Government Has Shown That It Will Increase The Retirement Sums By More.
For the year 2024, the basic healthcare sum amount has increased by 4.4% from $68,500 to $71,500.
According To The Ministry Of Finance, A Cpf Member With Three Times The Basic Retirement Sum In 2025 Can Have An Estimated Monthly Payout Of S$2,530.
To estimate your own retirement sums, first figure out how many years it’ll take for you to reach age 55, then.
The Minimum Sum Is The Amount That Must Be Set Aside In The Central Provident Fund (Cpf) For Retirement Needs When A Member Turns 55.